The Bank of Russia held its interest rate at 7.5% at its meeting yesterday, meeting analyst expectations. Despite this, the central bank signaled that it will continue to raise interest rates this year, citing a growing budget deficit, labor shortage, and the depreciation of the ruble as risks to inflation. The Bank of Russia also …
The Reserve Bank of India (RBI) raised the repo rate, its policy rate, by 0.25% to 6.50% at its meeting today, as expected. This is the sixth consecutive rate hike by the RBI as it aims to combat high inflation levels in the country. Despite recent signs of retail sales inflation peaking, the RBI remains …
Reserve Bank of India Hikes Interest Rate by 0.25% as Inflation Slows Read More »
The Reserve Bank of Australia (RBA) raised its policy rate by 0.25% to 3.35% on February 7th, marking the ninth consecutive monthly hike and the longest hike on record. In a statement issued after the meeting, the RBA Board emphasized its focus on bringing inflation back to its target range of 2-3%, as high inflation …
The Bank of England (BoE) raised interest rates by 0.50% to 4.0% as expected by the market, marking the 10th consecutive interest rate hike. The vote was 7-2 in favor of the increase. In its statement, the BoE indicated that future interest rate hikes may slow down, as inflation was likely to have peaked and …
Bank of England Raises Interest Rate to 4.0%, Signals Slower Pace Read More »
The European Central Bank (ECB) raised interest rates by 0.50% as anticipated yesterday, marking the fifth consecutive interest rate increase. The deposit rate rose to 2.5% as a result of the interest rate increase. In addition, the ECB signaled more interest rate hikes to tackle inflation and clearly stated that the ECB will raise interest …
ECB Raises Interest Rates by 0.50% as Expected, Signals Further 0.50% Next Month Read More »
The Hong Kong Monetary Authority (HKMA) has raised its policy rate by 0.25% to 5.0% after the Federal Reserve raised its interest rate by 0.25% at its meeting yesterday. The Hong Kong dollar, which is tied to the US dollar, requires the HKMA to pursue monetary policy in line with the Fed. The Federal Reserve …
Hong Kong Monetary Authority Follows the Fed, Raises Interest Rates by 0.25% Read More »
The Central Bank of Kenya has decided to hold its interest rates unchanged at 8.75% following its policy meeting yesterday. The statement from the bank indicated that it is monitoring the impact of its November 2022 interest rate hike on the economy. This decision by the Central Bank of Kenya stands in contrast to the …
Bank of Kenya Keeps Interest Rates Steady According to Policy Meeting Report Read More »
The Mortgage Bankers Association (MBA) reported a significant increase in the number of applicants for mortgage loans in the United States last week, following a drop in mortgage interest rates. According to the MBA, the number of applicants for mortgage loans rose by 7% last week, with a 15% increase in the number of people …
US Sees Surge in Mortgage Loan Applications as Interest Rates Drop Read More »
The Bank of Thailand’s Monetary Policy Committee (MPC) announced a 0.25% increase in the key interest rate, raising it from 1.25% to 1.50%, effective immediately. The decision was made during the MPC’s latest meeting. The MPC stated that a gradual and sustained normalization of monetary policy is the appropriate approach for aligning with the growth …
Bank of Thailand Raises Key Interest Rate by 0.25% Read More »
The Central Bank of Pakistan has raised the interest rate by 1% to 17%, the highest level since October 1997 and in line with analysts’ forecasts. The central bank stated that such interest rate hikes are aimed at curbing inflation, with the goal of maintaining price stability in order to achieve sustainable economic growth. This …
Bank of Pakistan Raises Interest Rate by 1% to 17% to Curb Inflation Read More »